Boston VA Loan Rates, Closing Costs & Stats

Boston-Cambridge-Newton, MA-NH

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Boston's 111 lenders originated 1,282 VA loans during 2023. The total origination value was $666,620,000, with an average VA loan value of $519,984.

Boston VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Boston averaged 6.68% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

Boston's average VA mortgage closing costs are $7,242.

The average rate for the prior week (2024-04-05) was 6.63% and one month ago for the week of 2024-03-08, the average rate was 6.46%.

The average rate one year ago was 5.76%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.43%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Boston VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Boston level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 183 6.54% $12,631
QUICKEN LOANS, LLC 80 6.09% $15,904
GUARANTEED RATE, INC. 65 6.14% $10,333
LOANDEPOT.COM, LLC 65 6.26% $14,680
NAVY FEDERAL CREDIT UNION 65 5.88% $8,696
UNITED WHOLESALE MORTGAGE, LLC 63 6.43% $9,370
CROSSCOUNTRY MORTGAGE, LLC 58 6.56% $12,859
CMG MORTGAGE, INC. 46 6.53% $12,246
PENNYMAC LOAN SERVICES, LLC 41 5.45% $10,938
FREEDOM MORTGAGE CORPORATION 37 6.45% $18,419
MOVEMENT MORTGAGE, LLC 34 6.26% $10,181
USAA Federal Savings Bank 32 6.14% $11,051
The Federal Savings Bank 32 6.06% $20,945
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 30 6.62% $11,056
GUILD MORTGAGE COMPANY 22 6.72% $10,925
RADIUS FINANCIAL GROUP INC. 16 6.48% $12,976
Leader Bank 15 6.16% $9,004
HARBORONE MORTGAGE, LLC 12 6.02% $10,767
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.15% $11,712
NEWREZ LLC 11 6.43% $11,329
PENTAGON FEDERAL CREDIT UNION 11 5.33% $13,025
ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 6.21% $7,981
Mr. Cooper ( Nationstar Mortgage ) 10 5.89% $16,406
BROKER SOLUTIONS, INC. 9 6.54% $12,623
AMERISAVE MORTGAGE CORPORATION 9 5.57% $19,528
Barrington Bank & Trust Company, N.A. 8 6.21% $19,957
GUARANTEED RATE AFFINITY, LLC 8 6.13% $12,400
BNC National Bank 8 5.58% $13,437
Magnolia Bank 8 6.25% $18,805
EMM LOANS LLC 8 6.45% $8,671
NBKC BANK 8 6.48% $12,663
Armed Forces Bank 7 6.36% $17,233
ENVOY MORTGAGE, LTD 7 6.57% $7,177
TOTAL MORTGAGE SERVICES, LLC 7 6.75% $14,812
HOMEBRIDGE FINANCIAL SERVICES, INC. 7 6.20% $15,868
The Camden National Bank 6 6.15% $11,216
SALEM FIVE MORTGAGE COMPANY, LLC 6 6.63% $10,942
American Mortgage & Equity Consultants, Inc. 5 6.55% $13,283
RELIANCE FIRST CAPITAL, LLC 5 6.38% $11,847
NORTHPOINT MORTGAGE, INC. 5 6.85% $12,351
Shamrock Home Loans, Inc. 5 6.20% $6,947
AMERICAN FINANCIAL NETWORK, INC. 5 6.53% $12,484
MORTGAGE EQUITY PARTNERS LLC 5 6.60% $8,813
GENEVA FINANCIAL, LLC 5 6.90% $13,179
Wells Fargo Bank 4 5.84% $10,072
DREW MORTGAGE ASSOCIATES, INC. 4 6.50% $6,416
LAKEVIEW LOAN SERVICING, LLC 4 6.22% $17,593
Keystone Funding, Inc. 4 6.25% $7,394
HANSCOM 4 6.41% $2,706
The Washington Trust Company, of Westerly 4 6.69% $10,034
ACADEMY MORTGAGE CORPORATION 3 6.67% $5,749
ALLIED MORTGAGE GROUP, INC. 3 6.29% $14,678
Bank of England 3 6.42% $16,278
Citizens Bank 3 6.46% $8,810
EMBRACE HOME LOANS, INC. 3 5.92% $12,286
JPMorgan Chase Bank 3 6.33% $9,661
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.25% $13,228
NEW DAY FINANCIAL, LLC 3 7.29% $11,004
NEW FED MORTGAGE, CORP. 3 6.17% $18,494
NFM, INC. 3 6.08% $9,228
Prosperity Home Mortgage, LLC 3 6.00% $10,774
U.S. Bank 3 6.42% $6,336
VILLAGE CAPITAL MORTGAGE 2 6.19% $24,589
FIRST MORTGAGE COMPANY, INC. 2 6.43% $19,606
FIRST HOME MORTGAGE CORPORATION 2 6.81% $20,294
NATIONS DIRECT MORTGAGE, LLC 2 6.25% $10,820
North American Savings Bank, F.S.B. 2 5.50% $3,722
Northpointe Bank 2 5.50% $11,466
NORWICH COMMERCIAL GROUP, INC. 2 6.00% $11,677
DRAPER AND KRAMER MORTGAGE CORP. 2 6.56% $16,325
CONWAY FINANCIAL SERVICES, LLC 2 6.50% $14,940
Presidential Bank, FSB 2 6.00% $21,434
CARDINAL FINANCIAL 2 6.19% $18,077
Bridgewater Savings Bank 2 5.94% $2,461
Semper Home Loans, Inc. 2 6.69% $24,283
Sierra Pacific Mortgage Company, Inc. 2 6.06% $14,156
Berkshire Bank 2 6.25% $12,274
BAYCOAST MORTGAGE COMPANY, LLC 2 6.00% $14,784
HOMESIDE FINANCIAL, LLC 2 6.25% $4,715
Flagstar Bank, FSB 2 6.75% $17,779
Paramount Residential Mortgage Group, Inc. 1 6.75% $4,726
HOMESTEAD FUNDING CORP. 1 7.00% $11,049
LENOX FINANCIAL MORTGAGE CORPORATION 1 5.88% $10,975
PHH Mortgage Corporation 1 5.99% $7,968
Plains Commerce Bank 1 6.63% $7,085
PLAZA HOME MORTGAGE, INC. 1 7.25% $835
PREMIA MORTGAGE, LLC 1 5.25% $8,544
Bank of New Hampshire 1 6.75% $16,625
CONTOUR MORTGAGE CORPORATION 1 6.25% $25,202
Waterstone Mortgage Corporation 1 7.63% $8,859
PROVINCE MORTGAGE ASSOCIATES, INC. 1 6.88% $5,492
CHURCHILL MORTGAGE CORPORATION 1 7.25% $6,733
Bank of America 1 7.13% $4,199
Capital Bank 1 6.00% $17,226
First National Bank Texas 1 7.13% $5,359
Rockland Trust Company 1 6.50% $7,072
TOWNE MORTGAGE COMPANY 1 6.50% $17,411
First Federal Bank 1 6.63% $15,133
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $2,009
Lakeview Community Capital, LLC 1 5.75% $21,685
Fall River Five Cents Savings Bank 1 6.63% $10,995
Evolve Bank & Trust 1 7.13% $5,380
AMERICAN INTERNET MORTGAGE, INC. 1 5.50% $11,094
AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $13,020
EVERETT FINANCIAL, INC. 1 5.88% $18,637
MILEND, INC. 1 6.25% $14,583
BM Real Estate Services, Inc. 1 7.25% $22,788
LADERA LENDING, INC. 1 6.13% $10,401
EQUITY RESOURCES, INC. 1 6.25% $3,978
SUN WEST MORTGAGE COMPANY, INC. 1 5.25% $22,491
OCMBC, INC. 1 7.13% $3,249

The top Boston VA lender as defined by loan originations is Mortgage Research Center, LLC, with 183 VA loans originated. Their average total fees are $12,631, which is $3,273 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Boston VA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,981), NAVY FEDERAL CREDIT UNION ($8,696), Leader Bank ($9,004), UNITED WHOLESALE MORTGAGE, LLC ($9,370) and MOVEMENT MORTGAGE, LLC ($10,181).

The lowest rate Boston VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.33%), PENNYMAC LOAN SERVICES, LLC (5.45%), NAVY FEDERAL CREDIT UNION (5.88%), Mr. Cooper ( Nationstar Mortgage ) (5.89%) and HARBORONE MORTGAGE, LLC (6.02%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Boston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $529,450 (6.0%) $858,963 (4.0%) 1.96 6,024
2018-02-01 $543,925 (5.6%) $875,791 (3.2%) 1.97 6,008
2018-03-01 $574,900 (6.5%) $907,076 (4.8%) 2.02 6,565
2018-04-01 $579,900 (5.5%) $900,058 (2.9%) 1.97 7,726
2018-05-01 $584,950 (6.2%) $896,235 (3.6%) 1.95 8,781
2018-06-01 $579,000 (5.3%) $876,303 (2.5%) 1.93 10,206
2018-07-01 $559,450 (1.9%) $857,166 (1.9%) 1.87 10,104
2018-08-01 $549,250 (3.6%) $825,147 (0.4%) 1.84 10,159
2018-09-01 $549,900 (3.8%) $806,934 (-1.4%) 1.85 11,372
2018-10-01 $549,000 (1.7%) $799,585 (-3.4%) 1.86 11,626
2018-11-01 $539,450 (-0.1%) $798,226 (-3.9%) 1.83 10,956
2018-12-01 $535,000 (1.1%) $798,662 (-5.6%) 1.85 8,824
2019-01-01 $533,900 (0.8%) $806,251 (-6.1%) 1.84 7,542
2019-02-01 $549,450 (1.0%) $851,143 (-2.8%) 1.86 7,336
2019-03-01 $571,386 (-0.6%) $884,062 (-2.5%) 1.87 8,059
2019-04-01 $599,900 (3.5%) $914,562 (1.6%) 1.90 8,915
2019-05-01 $602,450 (3.0%) $922,731 (3.0%) 1.88 9,950
2019-06-01 $599,900 (3.6%) $918,784 (4.9%) 1.87 11,096
2019-07-01 $599,900 (7.2%) $910,775 (6.3%) 1.88 10,604
2019-08-01 $595,643 (8.5%) $898,138 (8.9%) 1.89 10,685
2019-09-01 $589,259 (7.2%) $887,066 (9.9%) 1.89 10,878
2019-10-01 $587,806 (7.1%) $889,481 (11.2%) 1.90 11,006
2019-11-01 $589,900 (9.4%) $915,321 (14.7%) 1.93 9,635
2019-12-01 $589,450 (10.2%) $917,211 (14.8%) 1.97 7,007
2020-01-01 $586,600 (9.9%) $930,603 (15.4%) 1.96 5,779
2020-02-01 $599,900 (9.2%) $971,896 (14.2%) 1.96 5,750
2020-03-01 $629,900 (10.2%) $980,367 (10.9%) 1.97 6,617
2020-04-01 $617,450 (2.9%) $945,955 (3.4%) 1.93 6,435
2020-05-01 $629,900 (4.6%) $945,400 (2.5%) 1.91 7,200
2020-06-01 $656,699 (9.5%) $1,002,177 (9.1%) 1.93 7,782
2020-07-01 $677,000 (12.9%) $1,036,335 (13.8%) 1.96 7,395
2020-08-01 $675,000 (13.3%) $1,042,698 (16.1%) 1.93 7,191
2020-09-01 $672,500 (14.1%) $1,038,799 (17.1%) 1.93 7,579
2020-10-01 $665,000 (13.1%) $1,033,141 (16.2%) 1.91 7,944
2020-11-01 $654,450 (10.9%) $1,028,460 (12.4%) 1.91 7,085
2020-12-01 $647,450 (9.8%) $1,004,412 (9.5%) 1.93 5,301
2021-01-01 $659,000 (12.3%) $1,075,330 (15.6%) 1.97 4,099
2021-02-01 $679,450 (13.3%) $1,128,313 (16.1%) 1.98 3,872
2021-03-01 $682,250 (8.3%) $1,144,108 (16.7%) 1.94 4,267
2021-04-01 $694,000 (12.4%) $1,179,014 (24.6%) 1.88 4,773
2021-05-01 $699,800 (11.1%) $1,180,392 (24.9%) 1.86 4,879
2021-06-01 $697,225 (6.2%) $1,144,455 (14.2%) 1.84 5,738
2021-07-01 $669,900 (-1.1%) $1,113,575 (7.5%) 1.77 5,674
2021-08-01 $650,000 (-3.7%) $1,075,177 (3.1%) 1.73 5,574
2021-09-01 $671,000 (-0.2%) $1,055,466 (1.6%) 1.79 6,019
2021-10-01 $679,000 (2.1%) $1,062,835 (2.9%) 1.81 5,929
2021-11-01 $674,577 (3.1%) $1,073,504 (4.4%) 1.80 4,935
2021-12-01 $692,000 (6.9%) $1,141,128 (13.6%) 1.87 3,501
2022-01-01 $715,000 (8.5%) $1,220,127 (13.5%) 1.93 2,675
2022-02-01 $749,000 (10.2%) $1,237,957 (9.7%) 1.95 2,637
2022-03-01 $749,450 (9.9%) $1,254,177 (9.6%) 1.88 2,991
2022-04-01 $749,450 (8.0%) $1,243,532 (5.5%) 1.79 3,701
2022-05-01 $757,500 (8.3%) $1,242,269 (5.2%) 1.73 4,474
2022-06-01 $750,000 (7.6%) $1,172,907 (2.5%) 1.67 5,715
2022-07-01 $739,900 (10.5%) $1,110,707 (-0.3%) 1.67 6,177
2022-08-01 $725,000 (11.5%) $1,108,059 (3.1%) 1.68 5,759
2022-09-01 $744,000 (10.9%) $1,144,989 (8.5%) 1.74 5,913
2022-10-01 $749,000 (10.3%) $1,169,410 (10.0%) 1.76 6,223
2022-11-01 $744,925 (10.4%) $1,176,768 (9.6%) 1.79 5,903
2022-12-01 $749,000 (8.2%) $1,199,762 (5.1%) 1.85 4,407
2023-01-01 $759,450 (6.2%) $1,238,021 (1.5%) 1.88 3,697
2023-02-01 $799,000 (6.7%) $1,345,477 (8.7%) 1.93 3,433
2023-03-01 $823,500 (9.9%) $1,387,500 (10.6%) 1.94 3,705
2023-04-01 $839,000 (12.0%) $1,422,134 (14.4%) 1.95 4,059
2023-05-01 $867,125 (14.5%) $1,444,230 (16.3%) 1.97 4,314
2023-06-01 $866,443 (15.5%) $1,425,311 (21.5%) 1.95 4,806
2023-07-01 $849,900 (14.9%) $1,434,805 (29.2%) 1.93 4,538
2023-08-01 $844,200 (16.4%) $1,418,399 (28.0%) 1.94 4,530
2023-09-01 $849,000 (14.1%) $1,420,742 (24.1%) 1.98 4,931
2023-10-01 $837,374 (11.8%) $1,400,665 (19.8%) 1.97 5,351
2023-11-01 $824,500 (10.7%) $1,383,873 (17.6%) 1.96 5,205
2023-12-01 $800,000 (6.8%) $1,388,573 (15.7%) 1.95 4,062
2024-01-01 $809,900 (6.6%) $1,405,646 (13.5%) 1.98 3,369
2024-02-01 $854,450 (6.9%) $1,496,024 (11.2%) 2.06 3,319
2024-03-01 $879,950 (6.9%) $1,528,390 (10.2%) 2.07 3,737
Boston's median listing price for 2024-03-01 was $879,950, a difference of $56,450 (6.9%) versus the prior year and $25,500 versus the prior month.

Boston's median listing price comes in at 207% of the national average.

Boston's average listing price for 2024-03-01 was $1,528,390, a difference of $140,890 (10.2%) versus the prior year and $32,366 versus the prior month.

For the 2024-03-01 period, Boston had 3,737 MLS listings, a difference of 418 listings (13%) versus the prior month and 32 listings (1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Boston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 73 days 2,007 sqft
2018-02-01 57 days 2,025 sqft
2018-03-01 36 days 2,061 sqft
2018-04-01 29 days 2,042 sqft
2018-05-01 28 days 2,056 sqft
2018-06-01 32 days 2,045 sqft
2018-07-01 41 days 2,034 sqft
2018-08-01 46 days 2,012 sqft
2018-09-01 44 days 1,989 sqft
2018-10-01 44 days 1,967 sqft
2018-11-01 51 days 1,947 sqft
2018-12-01 65 days 1,937 sqft
2019-01-01 71 days 1,907 sqft
2019-02-01 56 days 1,925 sqft
2019-03-01 41 days 1,973 sqft
2019-04-01 32 days 2,025 sqft
2019-05-01 32 days 2,045 sqft
2019-06-01 37 days 2,054 sqft
2019-07-01 47 days 2,037 sqft
2019-08-01 49 days 2,020 sqft
2019-09-01 47 days 1,998 sqft
2019-10-01 45 days 1,983 sqft
2019-11-01 55 days 1,981 sqft
2019-12-01 75 days 1,932 sqft
2020-01-01 78 days 1,909 sqft
2020-02-01 43 days 1,959 sqft
2020-03-01 31 days 2,000 sqft
2020-04-01 45 days 1,996 sqft
2020-05-01 50 days 2,000 sqft
2020-06-01 31 days 1,967 sqft
2020-07-01 35 days 1,890 sqft
2020-08-01 37 days 1,844 sqft
2020-09-01 32 days 1,733 sqft
2020-10-01 31 days 1,692 sqft
2020-11-01 47 days 1,667 sqft
2020-12-01 62 days 1,652 sqft
2021-01-01 60 days 1,639 sqft
2021-02-01 33 days 1,652 sqft
2021-03-01 22 days 1,664 sqft
2021-04-01 18 days 1,668 sqft
2021-05-01 19 days 1,693 sqft
2021-06-01 19 days 1,711 sqft
2021-07-01 29 days 1,711 sqft
2021-08-01 31 days 1,710 sqft
2021-09-01 28 days 1,685 sqft
2021-10-01 30 days 1,656 sqft
2021-11-01 38 days 1,630 sqft
2021-12-01 49 days 1,649 sqft
2022-01-01 54 days 1,650 sqft
2022-02-01 25 days 1,663 sqft
2022-03-01 18 days 1,673 sqft
2022-04-01 15 days 1,685 sqft
2022-05-01 16 days 1,788 sqft
2022-06-01 18 days 1,813 sqft
2022-07-01 26 days 1,825 sqft
2022-08-01 35 days 1,832 sqft
2022-09-01 34 days 1,815 sqft
2022-10-01 31 days 1,813 sqft
2022-11-01 41 days 1,804 sqft
2022-12-01 58 days 1,836 sqft
2023-01-01 61 days 1,840 sqft
2023-02-01 37 days 1,861 sqft
2023-03-01 28 days 1,860 sqft
2023-04-01 25 days 1,849 sqft
2023-05-01 23 days 1,919 sqft
2023-06-01 24 days 1,911 sqft
2023-07-01 36 days 1,896 sqft
2023-08-01 37 days 1,900 sqft
2023-09-01 31 days 1,908 sqft
2023-10-01 32 days 1,879 sqft
2023-11-01 38 days 1,868 sqft
2023-12-01 53 days 1,835 sqft
2024-01-01 53 days 1,814 sqft
2024-02-01 33 days 1,838 sqft
2024-03-01 24 days 1,830 sqft
Boston's median listing age (time on market) for 2024-03-01 was 24 days. This is -14% shorter than the same period one year ago.

Boston's median square footage for active listings during the 2024-03-01 period was 1,830 sqft. One year prior, the average listing was 1,860 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.